Business & Economy

Erdogan demands that Turks turn their savings into lira

Turkish President Recep Tayyip Erdogan has urged his citizens and Turkish companies to transfer their savings from foreign currency to Turkish lira.
Erdogan’s call follows a major shock to the Turkish lira at the end of last year, reaching very low levels against the dollar.
In a speech after presiding over a Government meeting at the presidential compound in Ankara, Erdogan said that 163 billion Turkish lire (US $12.2 billion) had moved into the deposit system protected from exchange rate fluctuations as of Wednesday evening.

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